Yes, and no, but not in the same way it has impacted the under age 65 traditional health insurance market.
Perhaps the biggest impact on the Georgia Medicare insurance market is on Medicare Advantage plans.
Georgia seniors on Medicare will see few changes if they are still in original Medicareand have a Medigap (Medicare supplement) plan. Georgia Medicare insurance is an outstanding resource for information on Medicare and our quote engine (Georgia Medigap Quotes) provides you with Medigap rates on up to 40 plans in 60 seconds or less.
If you are a Georgia senior and have Part D or a Medicare Advantage plan, you will see more changes as a result of the ACA health insurance law.
First the good news.
The Medicare Part D “donut hole” will be gradually closed between now and 2020, but this is not all good news. The donut hole was designed to make your prescription drug plan affordable. Closing the hole will mean higher premiums, higher drug copay’s and fewer drugs covered under the plan formulary. Now more than ever you need to check your plan every year to make sure you have the right plan for your needs and budget.
Bob Vineyard at Georgia Medicare insurance is always willing to work with new and existing Medigap clients to help them find the right Part D plan in their area. We are not compensated in any way for this advice but we must limit this service to our Medigap clients only.
Medicare Advantage plans will also change as a result of the ACA health insurance law. Doctor and hospital networks will shrink. PPO plans will be replaced with HMO designs which means fewer doctors accepting your Advantage plan. Premiums will increase under Obamacare as will deductibles, copay’s and out of pocket limits.
Every year 10 – 15% of our new clients are seniors who are tired of the hassle associated with Advantage plans and they want stability and predictability in their lives. About half our new Medicare clients come from other carriers that have priced themselves out of the range for seniors on a fixed income. Most of them have Medicare supplement plan F through Blue Cross, Mutual of Omaha or AARP (United Healthcare). They don’t know they can usually get the same plan for a lot less than they are paying now and put that savings in their pocket rather than the insurance carriers account.
Most seniors I know want to pick their own doctor rather than choosing from a list that changes every year. When you have original Medicare and a Medigap plan YOU choose your doctor.
Regardless of your needs. If you are an individual or family searching for ACA health insurance, a business owner or a senior, we are here to help.